INTANGIBLE ASSETS |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Asset, Goodwill and Other [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS | NOTE 6 – INTANGIBLE ASSETS
Intangible assets were comprised of the following at:
Our Amortization Expense for the six months ended June 30, 2026 and 2025 was $2,969 and $5,938 respectively.
As of both June 30, 2026, and December 31, 2025, goodwill amounted to $747,976 and $747,976.
The LWL Investment, previously classified as an indefinite-lived asset, had a carrying value of $1,468,709 as of December 31, 2024. During the year ended December 31, 2025, the Company performed its annual impairment assessment and determined that the investment was impaired. Accordingly, the carrying value of the investment was written down to zero as of December 31, 2025.
As a result of this impairment, no value is reflected on the Company’s balance sheet as of December 31, 2025.
The License balance remained unchanged at $354,322 and $354,322 as of June 30, 2026, and December 31, 2025. The License is considered to have a indefinite useful life, is not subject to amortization. The Company estimates the useful life of the License based on the legal term and any other relevant factors, such as the expected technological obsolescence or the duration of the agreement.
The Patents balance, after amortization, was $68,065 as of June 30, 2026, and $71,034 as of December 31, 2025. Patents are classified as having a finite life and are amortized over their expected useful life, typically based on the legal protection period, which is generally 20 years from the filing date, or the expected period of the patent’s utility. The Company evaluates the carrying value of patents regularly to ensure that their estimated useful life and amortization period remain appropriate. Amortization expense for the period pertains to the systematic allocation of the cost of patents over their estimated useful lives.
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